On average, listings lease in the $40's per square foot per year. The Underwood Avenue region is experiencing a a rise in rates. In the last 3 months, the median rate increased $24 per sqft per year. That's a 100% rise in rent.
Compared to the rest of the Omaha market, the Underwood Avenue region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 11 listings have come on the market, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 45% of the available leases in the Underwood Avenue are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 360 sqft. Most properties in this market are close to 4 floors. Most buildings in this area were built in 1957 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Commute by public transit is the most popular way to get to work amongst Underwood Avenue folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.